Claredon Investment Ltd Filleted accounts for Companies House (small and micro)

CLAREDON INVESTMENT LTD - Company Information

1 false false false false false false false false false true false false false false false false No description of principal activity 2022-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 9,735,977 221,847 221,847 9,514,130 9,735,977 xbrli:pure xbrli:shares iso4217:USD 11886577 2022-01-01 2022-12-31 11886577 2022-12-31 11886577 2021-01-01 2021-12-31 11886577 2021-12-31 11886577 bus:Director1 2022-01-01 2022-12-31 11886577 core:WithinOneYear 2022-12-31 11886577 core:WithinOneYear 2021-12-31 11886577 core:AfterOneYear 2022-12-31 11886577 core:AfterOneYear 2021-12-31 11886577 core:ShareCapital 2022-12-31 11886577 core:ShareCapital 2021-12-31 11886577 core:RetainedEarningsAccumulatedLosses 2022-12-31 11886577 core:RetainedEarningsAccumulatedLosses 2021-12-31 11886577 core:CostValuation core:Non-currentFinancialInstruments 2022-12-31 11886577 core:ImpairmentLossProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2022-12-31 11886577 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2022-12-31 11886577 core:Non-currentFinancialInstruments 2022-12-31 11886577 core:Non-currentFinancialInstruments 2021-12-31 11886577 bus:SmallEntities 2022-01-01 2022-12-31 11886577 bus:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 11886577 bus:FullAccounts 2022-01-01 2022-12-31 11886577 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 11886577 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 11886577 core:OtherRelatedParties 2022-01-01 2022-12-31 11886577 core:OtherRelatedParties 2022-12-31 11886577 core:OtherRelatedParties 2021-12-31

COMPANY REGISTRATION NUMBER: 11886577

Claredon Investment Ltd

Filleted Unaudited Financial Statements

For the Period Ended

31 December 2022

Claredon Investment Ltd

Statement of Financial Position

31 December 2022

	2022		2021
Note	$	$	$	$

Fixed Assets

Investments	5		9,514,130		9,735,977

Current Assets

Debtors	6	1,000		1,000

Creditors: amounts falling due within one year	7	( 26,724)		( 24,078)
		--------		--------
Net Current Liabilities			( 25,724)		( 23,078)
			------------		------------
Total Assets Less Current Liabilities			9,488,406		9,712,899

Creditors: amounts falling due after more than one year	8	( 11,581,757)	( 11,094,958)
		-------------	-------------
Net Liabilities		( 2,093,351)	( 1,382,059)
		-------------	-------------

Capital and Reserves

Called up share capital	1,000	1,000
Profit and loss account	( 2,094,351)	( 1,383,059)
	------------	------------
Shareholder Deficit	( 2,093,351)	( 1,382,059)
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Claredon Investment Ltd

Statement of Financial Position (continued)

31 December 2022

These financial statements were approved by the board of directors and authorised for issue on 28 September 2023 , and are signed on behalf of the board by:

Fernando Rosellini Zornig

Director

Company registration number: 11886577

Claredon Investment Ltd

Notes to the Financial Statements

Year Ended 31 December 2022

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 East Point, High Street, Seal, Sevenoaks, Kent TN15 0EG.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

3.1 Basis of Preparation

The financial statements have been prepared on the historical cost basis.

3.2 Group Accounts

The company is precluded from any requirement to prepare group accounts by Section 383 of the Companies Act 2006.

3.3 Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

3.4 Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

3.5 Financial Instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).

5. Investments

	Shares in group undertakings
	$
Cost
At 1 January 2022 and 31 December 2022	9,735,977
	------------
Impairment
At 1 January 2022	–
Impairment losses	221,847
	------------
At 31 December 2022	221,847
	------------

Carrying amount
At 31 December 2022	9,514,130
	------------
At 31 December 2021	9,735,977
	------------

6. Debtors

	2022	2021
	$	$
Other debtors	1,000	1,000
	-------	-------

7. Creditors: amounts falling due within one year

	2022	2021
	$	$
Trade creditors	1,518	–
Other creditors	25,206	18,053
Other creditors	–	6,025
	--------	--------
	26,724	24,078
	--------	--------

8. Creditors: amounts falling due after more than one year

	2022	2021
	$	$
Other creditors	11,581,757	11,094,958
	-------------	-------------

The amount of $11,581,757 represents the unpaid purchase price owed by the company to the vendor of the two previous subsidiaries that the company purchased in March 2019 for US$9,735,977 plus a separate accrual for the total unpaid interest thereon of $1,845,780.

9. Related Party Transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2022	2021	2022	2021
	$	$	$	$
Owner with participating interest	–	–	9,735,977	9,735,977
	----	----	------------	------------

The loan is interest bearing at a rate of 5% and is unsecured and repayable in more than one year.